Sonida Senior Living to acquire eight senior living communities in Florida and South Carolina for $103m.

Sonida Senior Living, an owner, operator and investor in communities and services for seniors, agreed to acquire eight senior living communities in Florida and South Carolina for $103m. “With Sonida’s multi-faceted sourcing channels, we continue to identify accretive investment opportunities and firmly execute on our focused external growth strategy. With this planned acquisition, Sonida will further broaden its high-quality and regionally-focused real estate portfolio with newer vintage communities in mid-to-large metropolitan areas with favorable growth prospects. By successfully integrating Sonida’s best-in-class operating platform into these communities, and with occupancy growth, ongoing rent rate improvement and effective expense management, these investments can ultimately generate meaningful value creation for our shareholders,” Brandon Ribar, Sonida President and CEO.